But not to worry says JPMorgan strategist Thomas J. Lee.
The telltale sign of an impending recession is an inversion of the 30-year-10-year yield spread.
Typically, 30-year bonds yield more than 10-year bonds as a function of people wanting to get paid for not being in riskier assets. When the 30-year yield collapses, watch out.
30-year yields have been coming down, and the spread is narrowing, but we’re nowhere near inversion.